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News about Mortgages:
Sharp rise in repossessions - Watford ObserverWatford has seen the biggest increase in the number of repossessions of any town in Hertfordshire, Bedfordshire and Essex, government statistics have revealed. The latest figures for the number of mortgage repossessions show 254 people lost their ...
Home repossession increasing in St Albans - St. Albans ObserverST ALBANS has seen one of the biggest increases in the number of mortgage repossessions in Hertfordshire, Bedfordshire and Essex, government statistics have revealed. Figures show there was a 25 per cent rise in repossessions during the first half of ...
Property crash opens door to the new council house - Times OnlineGordon Brown is set to usher in a new era of council housing by helping local authorities to buy repossessed and unsold properties. Cash and powers will be made available so that town halls can intervene in the housing market, The Times has learnt ...
A pillar of town gets vital support - Bridgeton NewsThe Essex County sheriff's officer showed up at Annie Anderson's house in Irvington on a recent morning. He was at the front door to evict the 83-year-old woman. She looked past him and saw the truck outside. It was there to take the baby playpens ...
A transcript follows. - Washington PostPersonal finance columnist Michelle Singletary will host an online discussion with Carolyn Warren , author of "Mortgage Rip-Offs and Money Savers" (John Wiley & Sons), on Thursday, Aug. 28 at Noon ET.
Transcript: Color of Money Book Club - Washington PostPersonal finance columnist Michelle Singletary hosted an online discussion with Carolyn Warren , author of "Mortgage Rip-Offs and Money Savers" (John Wiley & Sons), on Thursday, Aug. 28 at Noon ET. Carolyn Warren: I list 7 disadvantages of an ...
Community Notes - Abington MarinerTo send an announcement, write to the Watertown TAB, 254 Second Ave., Needham, MA 02494; fax 781-433-8202 or e-mail watertown@cnc.com. Please keep submissions to 150 words or fewer. The deadline for listing submissions is Friday at 5 p.m. for the ...
How pushing the boat out can save cash - BBC BusinessWith the housing market looking increasingly gloomy and uncertain, some would-be-buyers have been tempted to swap bricks and mortar for ducks and water by choosing to live on a houseboat. But despite dire associations with cramped space and primitive ...
Program seeks to keep 'em in Glassboro - Bridgeton NewsGLASSBORO People who work in Glassboro may soon be able to apply for low-interest mortgage loans to buy homes here Ð part of a state program that is being adopted by other communities throughout New Jersey. The borough council approved a resolution ...
Habitat for Humanity breaks ground on Memorial Dr. - Windsor StarWhenever Peter Tumidajski needs a pick-me-up, he drives by the two-storey house he built with his own hands. Tumidajski, the vice-president of academics at St. Clair College, says the 1,300-square-foot Toronto home he built in 1982 after finishing up ...

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Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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